QUIT CLAIM DEED – Land Contracts
Quit-claim deed explained for you
It is a deed that is used to transfer interest in the property that is real. The entity that is transferring the interest is known to be as the Grantor while the receiver is said to be as Grantee. It is the means of transferring ownership. This is a form where property transfers its ownership without selling the property. There is no money involved in the transfer. There is no title insurance as well as there is no title search to verify ownership.
This is done when the ownership is done within family members. It can also be used if any insurance company title finds potential owner and so that he cannot claim on the property in the future the quit- claim deed. This deed is valid on the ownership of the house but not for the mortgage.
Here one will need to provide the description of the property that is being transferred and legally. They will also need to provide a date if its ownership that is transferred. The name of both the grantor and the grantee are needed. There shall be witness whose signature is needed too, to keep a record in the public office in front of the notary.
This deed is useful as because it acts like a proof that the property is yours even if the property has been owned by someone else before you. You can hire an attorney to do your work as will help you to understand the implications of such transfers.
Sample Template Preview
STATE OF GEORGIA
COUNTY OF _____________
THIS INDENTURE, made this _____ day of ________ in the year of our Lord
20____, between _____________________ of the State of Georgia, of the first part, and ________________________, of the State of Georgia, of the second part,
WITNESSETH: That the said parties of the first part, for and in consideration of the sum of TEN ($10.00) AND NO/100 DOLLARS, and other good and valuable consideration, in hand paid, the receipt whereof is acknowledged, have bargained, sold, and by these presents do remise, convey and forever QUIT-CLAIM to the party of the second part, his heirs and assigns, the following:
Also known as street and number: ____________________________________.
TO HAVE AND TO HOLD the said described premises to the said party of the second part, so that neither the said parties of the first part nor their heirs, nor any other person or persons claiming under them shall at any time, by any means or ways, have, claim or demand any right or title to the aforesaid described premises or appurtenances, or any rights thereof.
IN WITNESS WHEREOF, the said parties of the first part have hereunto set their hands and their seal, the day and year above written.
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